The nation’s enviable economic growth, low unemployment and high living standards depend largely on improving productivity.
However, our productivity growth has slowed. Australians are feeling the effects – the cost of living is biting, and people don’t feel like they are able to get ahead.
We need to do everything we can to lift Australia’s productivity and move towards a more modern and faster growing economy.
Universities are at the heart of driving Australia’s productivity – through the highly skilled graduates we produce and technological and social innovation we generate through research.
In fact, if we could lift investment in higher education research and development by just one per cent, we could lift productivity and increase the size of Australia’s economy by $24 billion over 10 years.
Investment in Australia’s universities is an investment in Australia’s future.